Tech firms drive AI advancements, with the market set to hit US$266bn by 2032, transforming industries
USA News Group has reported on the sustained growth and impact of artificial intelligence (AI) in the global economy, highlighting that AI's influence is undeniably extensive and here to stay.
Fintech Futures analysts predict the Generative AI Market will achieve a staggering revenue of US$266bn by 2032, growing at a Compound Annual Growth Rate (CAGR) of 37.8 percent.
Various tech companies, including Scope AI Corp., Cisco Systems, Inc., Mobileye Global Inc., Samsara Inc., and Veritone, Inc., are strategically positioning themselves within this booming sector.
Scope AI Corp. has recently expanded its market reach through the rebranding of its GEM (General Enterprise Machine Learning) platform.
This platform is now a one-stop web solution that aids developers and businesses of all sizes in creating bespoke image detection, behavior analysis, and neural network systems.
The updated GEM platform features enhanced security measures, advanced user management tools, and is initially targeting the advertising, gaming, and healthcare industries. A new Application Programming Interface (API) is also expected to be released later this year.
In the realm of AI-driven security, Cisco Systems launched 'Hypershield' after its $28bn acquisition of Splunk.
Hypershield uses AI to protect applications, devices, and data across various environments, employing advanced hardware accelerators used in large-scale public clouds and high-performance computing.
In the automotive sector, Mobileye Global Inc. is advancing automated driving technologies. Volkswagen has partnered with Mobileye to develop the first autonomous Level 4 service vehicle for large-scale production.
Similarly, Porsche is incorporating Mobileye's “Supervision” system, enhancing driving safety and automation.
Samsara Inc. has been selected by Quest Waste Management to provide AI dash cams and coaching tools to enhance fleet safety and operational efficiency. Samsara's AI-driven solutions are set to significantly impact safety and cost management across Quest's extensive client base in North America and Europe.Lastly, Veritone, Inc. is focusing on the media industry, particularly on audience measurement challenges through its AI-driven Advertising and Content Intelligence Suite.
This suite helps media companies, advertisers, and broadcasters manage content, strategize advertising, and engage audiences more effectively, leveraging their aiWARE enterprise AI platform for media monitoring and analytics.
